On average, listings lease in the $30's per square foot per year. The Far Rockaway submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $2 per sqft per year. That's a 6% decrease in rent.
Compared to the rest of the New York City market, the Far Rockaway submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 1 listings have been posted online, which means spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 4,000 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this market are close to 2 floors. Most buildings in this region were built in 1967 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Real estate is the dominant industry in this region. Most of the occupants of Far Rockaway work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.